Norges Bank says digital krone not required for now
Future conditions may prompt a shift if Norges Bank determines a digital currency becomes necessary.
Norway’s central bank has concluded that a central bank digital currency is not needed for now, ending several years of research and reaffirming that the country’s existing payment system remains secure, efficient, and widely used.
Norges Bank stated that it found no current requirement for a digital krone to maintain confidence in payments. Cash usage in Norway is among the lowest globally, but authorities argue the present system continues to serve consumers, merchants, and banks effectively.
The decision is not final. Governor Ida Wolden Bache said the assessment reflects timing rather than a rejection of CBDCs, noting the bank could introduce one if conditions change or if new risks emerge in the domestic payments landscape.
Norges Bank continues to examine both retail and wholesale models under the broader EU AI Act framework for digital resilience. It also sees potential in tokenisation, which could deliver efficiency gains and lower settlement risk even if a full CBDC is not introduced.
Experiments with tokenised platforms will continue in collaboration with industry partners. At the same time, the bank prepares a new report for early next year and monitors international work on shared digital currency infrastructure, including a possible digital €.
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